Arvinas gets $350M boost from investors to extend runway into 2027
Arvinas’ $350 million private placement will help bankroll the protein degrader biotech as it nears completion of its first Phase III study with partner Pfizer.
The Connecticut PROTAC company is largely known for its leading role in the field of protein degraders and a $1 billion upfront deal with Pfizer in 2021. The proceeds are expected to keep the lights on “into 2027,” per an SEC filing on Monday morning. The new funding extends the runway by a full year, based on guidance that the company gave earlier this month, saying on Nov. 7 that its balance of $1.0 billion at the end of September would last “into 2026.”
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